Illinois politicians are once again eyeing a “temporary” tax increase, and residents should be wary. History shows Illinois politicians favor tax hikes over spending reform, and the Tollway and 2011 income tax battle offer examples of the dangers taxpayers face when politicians toy with a temporary tax hike.
The latest report from the Commission on Government Forecasting and Accountability shows Illinois experienced falling tax collections, indicating trouble in the state economy. Spending reforms – not tax hikes – are what Illinois needs to right its fiscal ship and boost economic growth.
Though the median household income in Belleville is only $43,318, Belleville Township School District 201’s top administrators are making six-figure salaries.
House Speaker Mike Madigan and House Minority Leader Jim Durkin used shell bills to avoid the March 31 deadline for bills to pass out of committee. Madigan passed 936 shell bills. Durkin passed 528. Meanwhile, thousands of substantive bills died without so much as a committee hearing.
Rank-and-file lawmakers have received paychecks of more than $50,800.
SB 9 is part of the package of bills that make up the Senate “grand bargain,” which would have hiked taxes by $7 billion.
Though Illinois lawmakers leave without addressing the current fiscal impasse, it’s been 16 years since the General Assembly last balanced the budget.
Despite being sold as property tax “relief,” new legislation in Springfield would only shift property tax burdens on to certain taxpayers, while complicating an already confusing property tax system.
The Taxpayer Bargain finally shifts the budget conversation in favor of taxpayers over politicians, with a plan that balances the state budget without tax hikes.
State and local costs for workers’ compensation are out of line with what other states pay.
Under a 2015 agreement between the Department of Commerce and Economic Opportunity and The Advisory Board Co., the state gave a tax credit worth millions of dollars in exchange for 55 jobs.
With bipartisan support, members of the Illinois House adopted a resolution opposing the internet streaming tax proposal – which might not even be legal — in the Senate’s “grand bargain.”
House Bill 3393 would impose a 20 percent surcharge on fees earned by investment managers.
Illinois’ revenues are falling each month of this fiscal year, and it will be difficult to change course.